DA Davidson Cuts Amazon.com (NASDAQ:AMZN) Price Target to $230.00

Amazon.com (NASDAQ:AMZN) had its price target reduced by DA Davidson from $280.00 to $230.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the e-commerce giant’s stock. DA Davidson’s price target points to a potential upside of 26.50% from the company’s previous close.

A number of other equities analysts have also issued reports on AMZN. Citigroup decreased their price objective on Amazon.com from $273.00 to $225.00 and set a “buy” rating for the company in a report on Monday. Truist Financial lowered their price target on Amazon.com from $265.00 to $230.00 and set a “buy” rating on the stock in a report on Thursday. Scotiabank upped their price objective on shares of Amazon.com from $246.00 to $306.00 and gave the stock a “sector outperform” rating in a report on Friday, January 24th. JMP Securities dropped their price target on shares of Amazon.com from $285.00 to $240.00 and set a “market outperform” rating on the stock in a research report on Monday. Finally, Oppenheimer increased their price objective on shares of Amazon.com from $230.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Two investment analysts have rated the stock with a hold rating, forty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $253.56.

Amazon.com Stock Performance

Shares of NASDAQ:AMZN traded down $3.05 on Monday, reaching $181.82. 33,106,687 shares of the company’s stock were exchanged, compared to its average volume of 41,575,340. Amazon.com has a fifty-two week low of $151.61 and a fifty-two week high of $242.52. The business’s 50-day moving average is $204.23 and its two-hundred day moving average is $208.54. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $1.93 trillion, a price-to-earnings ratio of 32.88, a PEG ratio of 1.50 and a beta of 1.39.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. As a group, equities research analysts forecast that Amazon.com will post 6.31 EPS for the current year.

Insider Activity

In other news, VP Shelley Reynolds sold 8,833 shares of Amazon.com stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $222.47, for a total transaction of $1,965,077.51. Following the sale, the vice president now owns 119,780 shares of the company’s stock, valued at approximately $26,647,456.60. This trade represents a 6.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas J. Herrington sold 2,500 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $187.99, for a total value of $469,975.00. Following the completion of the transaction, the chief executive officer now directly owns 509,474 shares of the company’s stock, valued at approximately $95,776,017.26. This trade represents a 0.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 104,798 shares of company stock valued at $23,341,803 over the last 90 days. 10.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amazon.com

A number of hedge funds have recently modified their holdings of the stock. Swedbank AB raised its holdings in shares of Amazon.com by 1.4% in the third quarter. Swedbank AB now owns 13,335,826 shares of the e-commerce giant’s stock valued at $2,484,864,000 after buying an additional 183,610 shares during the last quarter. Sassicaia Capital Advisers LLC acquired a new position in shares of Amazon.com during the third quarter worth approximately $279,000. Howard Capital Management Group LLC grew its stake in shares of Amazon.com by 0.3% during the third quarter. Howard Capital Management Group LLC now owns 356,539 shares of the e-commerce giant’s stock valued at $66,434,000 after purchasing an additional 897 shares during the last quarter. Meridian Management Co. increased its holdings in shares of Amazon.com by 27.6% in the third quarter. Meridian Management Co. now owns 33,460 shares of the e-commerce giant’s stock valued at $6,235,000 after purchasing an additional 7,246 shares in the last quarter. Finally, Pettinga Financial Advisors LLC lifted its holdings in Amazon.com by 4.3% during the 3rd quarter. Pettinga Financial Advisors LLC now owns 5,512 shares of the e-commerce giant’s stock worth $1,027,000 after buying an additional 225 shares in the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Amazon.com Company Profile

Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.